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Amazon earnings grow but miss expectations

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Associated Press
SEATTLE ó Amazonís profit and revenue both grew in the latest quarter, but its results are below what Wall Street was expecting and shares of the worldís biggest online retailer are down sharply. Inc. said Thursday that it earned $239 million, or 51 cents per share, in the October-December period. Thatís up from $97 million, or 21 cents per share, in the same period a year earlier.
Seattle-based Amazon said that its revenue grew 20 percent in the fourth quarter, to $25.59 billion from $21.27 billion.
FactSet said analysts were expecting earnings of 74 cents per share on revenue of $26.05 billion.
For the current quarter, Amazon is forecasting revenue of $18.2 billion and $19.9 billion. Analysts expect $19.67 billion.
Amazonís stock is down 10 percent in extended trading.
Story tags » RetailAmazonSeattle



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